site.btaDefence Companies Briefed on Ways to Receive Financing by Bulgarian Development Bank

The Bulgarian Development Bank (BDB) is a natural partner for enterprises in the strategic sectors of the country. The newly adopted strategy for the period 2024-2026 foresees that the Bank, whose principal is the Ministry of Innovation and Growth, will provide support for the country's strategic sectors, including defence and the military-industrial complex.

This emerged on Tuesday at a meeting between Innovation Minister Rosen Karadimov with companies, manufacturers of the military-industrial complex, including Terem-Holding, Arsenal, VMZ-Sopot, Optix, Samel-90, Arcus and others, the Innovation Ministry said.

The new development strategy of the BDB and the prepared amendments to its charter allow the state-owned bank to offer banking services and financing to state-owned and private enterprises in the military-industrial complex without any limit, the Ministry said. The support will also be targeted at companies that in recent years have not had access to bank lending.

Opportunities were presented for development, support and financing of manufacturers in the sector from the Bank, under the Investment Promotion Act, as well as for financing innovations in the defense industry.